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Sierra Madre Increases M&I Silver-Equivalent Resources at La Guitarra by 373% to 27.2 million Ounces, Inferred Silver- Equivalent Resource Increased 204%to 20.2 million Ounces
VANCOUVER, BC / ACCESSWIRE / November 1, 2023 / Sierra Madre Gold and Silver Ltd. (TSXV:SM)(OTCQ...
About this update from Sierra Madre Gold & Silver Ltd.
[{"type":"text","content":"Sierra Madre Increases M&I Silver-Equivalent Resources at La Guitarra by 373% to 27.2 million Ounces, Inferred Silver- Equivalent Resource Increased 204%to 20.2 million OuncesVANCOUVER, BC / ACCESSWIRE / November 1, 2023 / Sierra Madre Gold and Silver Ltd. (TSXV:SM)(OTCQX:SMDRF) (\"Sierra Madre\" or the \"Company\") is pleased to announce its first project-wide Resource Estimate for the La Guitarra silver-gold mine and the Temascaltepec mining district in Estado de Mexico, Mexico. TechSer Mining Consultants Ltd. (\"TechSer\") of Vancouver B.C. prepared the Mineral Resource Estimate, David Thomas, P.Geo. and QP Geology and Cristian Garcia, P.Eng. and QP Mining. The following tabulates the La Guitarra estimated Mineral Resources.Table 1: Summary La Guitarra 2023 Mineral Resource Estimate, David G. Thomas P. Geo (Effective Date: October 24, 2023)ClassTonnesAgEq (g/t)Ag(g/t)Au (g/t)AgEq OzsAg OzsAu OzsIndicated3,842,0002201460.9627,207,00018,073,000118,000Inferred4,105,0001531130.5220,199,00014,937,00068,000See notes following Table 3Gregory K. Liller states, \"I am extremely pleased with the results of the new mineral resource estimation. This study validates our belief that La Guitarra has a significantly overlooked resource base. Since April, our staff has been working on validating the project-wide database, incorporating historical data, auditing the previously mined areas, and refining the geologic interpretation of the vein and models. The next step to re-opening the Guitarra mine will be a Mine and Restart Plan due in the first quarter of 2024; consisting of a capital and operating cost study, the results of which will be used to evaluate the economic potential of the mine.\"The following tabulates the Mineral Resource Estimates by Classification and Area;Table2: Indicated Mineral Resource EstimateAreaTonnesAgEq (g/t)Ag(g/t)Au (g/t)AgEq OzsAg OzsAu OzsNazareno310,0002572150.552,564,0002,141,0005,000Coloso432,0003462211.614,806,0003,071,00022,000Guitarra1,649,0002201231.2511,664,0006,544,00066,000Sub-Total2,391,0002481531.2219,034,00011,756,00093,000Los Angeles690,0001771090.873,919,0002,419,00019,000Mina De Agua761,0001741590.194,255,0003,899,0005,000Total Indicated3,842,0002201460.9627,208,00018,074,000117,000Table 3: Inferred Mineral Resource EstimateAreaTonnesAgEq (g/t)Ag (g/t)Au (g/t)AgEq OzsAg OzsAu OzsNazareno754,00025...